SVM103100 - Correspondence and Customer Service: Delay in Opening Negotiations

As a general rule, a valuation should not be deferred pending settlement of another valuation if the circumstances, for example the size of the holdings, are different or if there is a considerable distance between the valuation dates. In any other case, where valuers consider there are valid reasons for postponement, it is important to notify the taxpayers or agents of the proposed deferment and obtain their consent to avoid any subsequent complaint.

Even if the taxpayer or agents do agree to defer discussion about the valuation until the ongoing valuation is concluded, you should (whilst bearing in mind taxpayer confidentiality) regularly update them and check that they are still content to await the outcome of the other negotiation.

If the taxpayer/agents wish to open negotiations directly with us in parallel with the existing negotiations, you should, of course, accede to the request. After all, it is possible that a satisfactory value may be agreed in respect of a later valuation request while an earlier valuation request for a similar-sized holding at a similar date remains unsettled.

It may be reasonable to defer consideration of a valuation for a relatively short time if detailed negotiations are in progress regarding the value of a similar-sized holding at much the same date. However, if the ongoing valuation shows no sign of being resolved, you should consider whether better overall progress could be made by conducting independent negotiations.

Additional Guidance: SVM150000